Anyone here ever think of opening a pawnshop?
 

Apparently, it's like shooting fish in a barell when it comes to making money. Any experiences?

Its a good business to be in I think.. poorer people always need money for something or other.

I am friends with a guy that used to work in one though, and it's a lot of work...

Do you like dealing with shitbags all day long? If you do then a career as a pawnshop owner might be for you.

Documentation work? Or finding buyers for pawned goods?

So MOST people who pawn are automatically shitbags?

Yes.

Does that have anything to do with most all pawn shops being located in cities or lower class areas?

I know someone that owns a pawn shop and yes its a big money maker. They do have to deal with a lot of bureaucracy. The worst part is seeing the people coming in with their kids bikes or Disney videos etc and the kids in the car. Sad.

Lots of documentation.. it's like running a regular store with a whole other layer of bullshit added on top.

I would imagine a lot of paperwork to determine that the goods are not stolen.

Anyone know what the % of value to 'pawn value' normally is? I would say its very low. Ie., something brand new costs $500, used value = $200, pawn value = $20 ?

It might have something to do with the fact that people in upscale neighborhoods dont usually pawn shit.

You will eb dealing with the cops on a daily basis.

Sending them reports on what you have bought, and then having them in the stor for complaints.

I dont know what the profit breakdown is between selling pawned goods and making money from the interest if someone actually gets their stuff out of hock but I think they charged 20% a month so you can imagine how the juice builds up.

Exactly. "Shitty" neighborhoods are a gold mine, if you know what to look for.

Section 8 housing is fucking AMAZING. My buddy just buys crappy buildings, cleans them up, has cheap Mexican labor go over them with toothbrushes, and makes BANK leasing to Section 8 recipients.

Documentation

Actually there is 3 pawn shops arround here and they are in the worst spots of the city

Automation, bro. Even fingerprinting is digitized now.

I really don't know how I could accept them ... I think I'd be more likely to get a good american knuckle and kick their ass ... I'm a parent myself and I would NEVEr do that to my kid ... I'd eat Kraft dinner all year long b4 doing this

They take your fucking fingerprints @ the pawn shop now ? I never pawned anything ... sorry I'm new to this shit

they probably need the money to go and buy all those kraft dinners and ramen noodles. besides who cares? poor people are worthless peices of shit and will hopefully burn in hell.

I can't see that happening in most porn shops that I've driven by. :2 cents:

can be a potential good business.

I'm sure in your family tree there were some poor people. Don't hate....

there are big money makers in it:D

WTF man ... some ppl deserve to be poor ... but when you were born a way, sometimes you don't know nothing else .

As long as it's legal, its a legit biz....